FY2024 EPS Estimates for OGE Energy Reduced by Analyst

OGE Energy Corp. (NYSE:OGE) – Stock analysts at Zacks Research cut their FY2024 EPS estimates for OGE Energy in a report released on Tuesday, November 26th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will earn $2.13 per share for the year, down from their previous estimate of $2.14. The consensus estimate for OGE Energy’s current full-year earnings is $2.15 per share. Zacks Research also issued estimates for OGE Energy’s Q4 2024 earnings at $0.44 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $2.26 EPS, Q2 2026 earnings at $0.69 EPS and Q3 2026 earnings at $0.77 EPS.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.50.

OGE Energy Price Performance

Shares of OGE opened at $44.08 on Thursday. The business’s fifty day moving average is $41.36 and its 200 day moving average is $38.84. OGE Energy has a 12-month low of $32.06 and a 12-month high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.86 billion, a P/E ratio of 22.84, a P/E/G ratio of 3.94 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year.

Hedge Funds Weigh In On OGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. ClearBridge Investments Ltd raised its holdings in shares of OGE Energy by 2.7% in the 2nd quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after purchasing an additional 150,797 shares during the period. Boston Partners lifted its stake in OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares during the last quarter. Geode Capital Management LLC grew its holdings in OGE Energy by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock valued at $137,433,000 after purchasing an additional 40,733 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by insiders.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.82%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 87.05%.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.